Hey George. Couple things I'd love in SM;

1. the ability to send either HTML or plain text based on a record set field.

2. the ability to embed or serve images in HTML emails based on a record set field.

Then I can give my newsletter users the choice to profile themselves and server them what they prefer. A lot of corporates block HTML emails or emails with embedded images - but of course some people prefer it for offline reading.
Just some thoughts I had because I've used 121Agent for emailing Newsletters for yonks, and these are nice options to have. 121 however is hell to learn! Cheers.<font face='Trebuchet MS'></font id='Trebuchet MS'>